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Equity Residential Class Seeks $38M As Late Fee Trial Opens

By Dorothy Atkins (June 8, 2023, 10:10 PM EDT) -- Counsel representing a certified class of 187,000 renters said during openings of a landmark California federal bench trial Thursday that rental giant Equity Residential owes $38.2 million for charging an illegal 5% late fee to quadruple its profits, while Equity's counsel said the fees were voluntary and covered rising personnel costs....

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